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How long does it take for a cc payment to clear?

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  • How long does it take for a cc payment to clear?

    When a credit card payment is "settled" according to the Click&Pledge report, how long does it take for the funds to be deducted from the purchaser's account and deposited into my settlement account? I thought this was supposed to be pretty quick (minutes or hours) rather than several days. What's your experience?

    Thanks, JeffreyS

  • #2
    Good day,

    The following is the process through which the transactions are settled:
    1. Upon authorization the amount is taken off of the card holder's credit limit. This ensures the payment to be made upon settlement.
    2. All day's payments are batched together and settled at midnight your time-zone and submitted to the bank's for settlement.
    3. In 48 hours the funds are transferred to your bank account via direct ACH payment.

    It is up to the settling bank as to when the actual transaction appears on the statement. The authorization is instantaneous upon web-authorization. Once a card authorizes the full amount of the authorized payment will be deducted from the credit card limit so the available limit on the card will be reduced by the authorized payment.

    I hope the above answers your question.
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